German lender to give Tanzania SMEs 42bn/- financial support

 EXIM Bank Tanzania has signed a USD 20 million (about 42bn/-) loan pact with Germany’s private enterprise lender, Deutsche Investitions und Entwicklungsgesellschaft MBH (DEG) to support small and medium-sized enterprises (SMEs).   Exim Bank Chief Finance Officer (CFO), Mr Selemani Ponda, said the money, in the form of a senior loan will be disbursed in two tranches based on the progressive growth on lending assistance to the SMEs.   “The Senior Loan.... Read more »

Posted on : Wednesday , 2nd September 2015

Rwanda Govt leases 22 micro-hydro power plants to private developers

 The government has leased 22 micro-power projects to private investors, a move aimed boosting the country’s power generation capacity.   The plants were leased to seven private power developers for 25 years, according to the Power Purchase and Concession Agreements signed between the companies and Ministry of Infrastructure, Rwanda Development Board and the Rwanda Energy Group on Thursday.   Speaking at the signing of the deals, James Musoni, the Minister for.... Read more »

Posted on : Wednesday , 2nd September 2015

ERCC boosts Ethiopia market share in road construction

 Road construction in Ethiopia will now be dominated by the government  after Ethiopian Road Construction Corporation (ERCC) rolled out a business plan to boost its market share in road construction to 50%.   The move is aimed at improving transport and communication in the country which will favor local market growth.The government of Ethiopia also intends to be more involved in road maintenance.   The new big business plan also arranges to increase the.... Read more »

Posted on : Wednesday , 2nd September 2015

Shanzu Beach Resort to construct new block of apartments in Kenya’s Coast

 Shanzu Beach Resort is set to construct a new block of apartments at the Kenyan Coast in a bid to boost their high end property development.   The development which is dabbed The Shaza project will consist of 18 apartments comprising of two and three bedroom that will go for between Sh32 million and Sh42 million respectively.   The Shanzu beach resort blocks will be constructed in Mombasa County and will be completed by October this year.   Executive.... Read more »

Posted on : Wednesday , 2nd September 2015

Tender for the construction of the Kenya-Uganda pipeline to be anno

 A tender for the construction of the US$ 4bn Kenya-Uganda pipeline that is expected to cover 1,500km is set to be announced before the end of this year.   The construction project has been incorporated into the Lamu Port- South Sudan-Ethiopia Transport Corridor (Lapsset) infrastructure project.   The Lapsset Corridor Development Authority (LCDA) confirmed the reports and said that the tender that will be inviting companies to submit bids to put up the crude oil.... Read more »

Posted on : Wednesday , 2nd September 2015

East Africa: Intra-African Trade Rises As Market Access Between Blocs Improves

 Intra-African trade increased by 50 per cent to $61 billion between 2010 and 2013, according to recent data released by the African Development Bank.   The rise is attributed to improved market access and a strong growth in re-exports among African countries.   The increase marks a strategic shift in internal trade on the continent, which was previously relatively low compared with trade flows from the European Union and China, observers say.   Poor quality.... Read more »

Posted on : Tuesday , 1st September 2015

Africa: Cross border trade coordination enhancing industrilization

 Namibia’s Information and Communication Technology Minister Tjekero Tweya and South Africa’s Communications Minister Faith Muthambi this week formulated a coordination arrangement regarding the countries’ respective digital terrestrial television migration projects. Print Send to Friend The cooperation and coordination arrangement would see a joint task team established to mitigate the potential cross border interference between the two countries and enhance.... Read more »

Posted on : Tuesday , 1st September 2015

Kenya: Multi million investments as US extends AGOA trade deal

 Kenya expects 20 companies to start investing about 8 billion shillings ($80 million) immediately in the African nation's textiles industry after the renewal of a deal offering access to the U.S. market, its industrialisation minister said. President Barack Obama signed the Africa Growth and Opportunity Act (AGOA) this week, renewing a deal allowing Sub-Saharan African countries to export thousands of products to the United States, without tariffs or quotas, for a further 10.... Read more »

Posted on : Tuesday , 1st September 2015

Electricity construction project in Sudan gets funding

 Electricity construction project in Sudan has received a boost after  a US$ 200m contract was signed with the East Sudan Development Fund and the companies which won the implementation tender that will be used in the generation of electricity in East Sudan region.   First Vice-President General Bakri Hassan Salih, the Minister of Water Resources and electricity Mutaz Musa and a number of senior officials witnessed the signing and Bakri said that linking the east with.... Read more »

Posted on : Tuesday , 1st September 2015

The constructed 650MW Gas power Plant in Egypt goes Online

 The constructed 650MW gas power plant in Egypt has started going online in just 159 days after its ground breaking ceremony.   The gas power plant in Egypt that recently completed its construction is the  first fast-track natural gas–fired project as it was being carried by two bodies one being Siemens and Egyptian firm Elsewedy Electric near the city of Suez.   Attaqa Simple Cycle Power Plant is the very first power project in Egypt that has been.... Read more »

Posted on : Tuesday , 1st September 2015

Eni discovers a supergiant gas field in the Egyptian offshore - the largest ever found in the Mediterranean Sea

 Eni has made a world class supergiant gas discovery at its Zohr Prospect, in the deep waters of Egypt. The discovery could hold a potential of 30 trillion cubic feet of lean gas in place covering an area of about 100 sq kms. Zohr is the largest gas discovery ever made in Egypt and in the Mediterranean Sea. Eni will immediately appraise the field with the aim of accelerating a fast track development of the discovery that will utilise at best the existing offshore and onshore.... Read more »

Posted on : Tuesday , 1st September 2015

Tanzania’s Kiliwani North Gas Agreement To Be Signed In Q3 2015

 Production from the Kiliwani North Field could start in 2015 with the Tanzanian authorities having advised that production should start within Q3 2015 now that the main pipeline has been pressure tested and with the Gas Agreement expected to be signed this quarter.   The completion of a Gas Sales Agreement (GSA) is subject to finalizing satisfactory payment protection guarantees and, following the recent start of production into the pipeline in the south of the country.... Read more »

Posted on : Tuesday , 1st September 2015